Quote from Ndubuisi Ekekwe on August 25, 2020, 1:50 PM

It happened: Exxon Mobil is going off DOW. Fossil fuel companies are entering a new phase of irrelevance.

The Dow Jones Industrial Average — the stock-market index comprising 30 companies — is getting its biggest shakeup in seven years. Software-maker Salesforce, biotech giant Amgen and industrial conglomerate Honeywell will replace Exxon Mobil, Pfizer and Raytheon Technologies in the 124-year-old blue-chip benchmark. The decision by Apple to undergo a stock split meant that the technology sector's weighting in the average would drop, prompting the decision to add Salesforce. Shares of Exxon Mobil, which has been a component of the Dow for almost 100 years, as well as those of Pfizer and Raytheon fell following the announcement Monday.